Additional legislation (H.R 2874) to reauthorize NFIP for 5 years was passed by the House of Representatives, however, still needs to be passed by the Senate.​​​

Legislation includes:

Protections for Grandfathering and Changes to Treatment of Repetitive Loss Properties - This legislation “resets the clock” to zero claims for the purposes of rate increases after a claim has been filed. This means only after a policyholder has filed two claims AFTER enactment of this bill (should it become law) would they sustain a rate increase because they filed a claim. After the filing of a second claim, rates on that property will increase 10% annually, and after the filing of a third claim, rates will increase by 15% annually until risk rates are met. If you are already paying a full risk rate, your rate will not increase.

Prioritization of Mitigation Dollars - Mitigation dollars will be prioritized for properties that have flooded, and past claims can be counted for that prioritization.

Excessive Lifetime Claims – Increases the threshold for properties to be classified as those with excessive lifetime claims to mean any property that exceeds three times the amount of the replacement value of the structure. This is an increase from the original bill language - up from twice the replacement value of the structure. Also, importantly, the slate is wiped clean for policyholders (as outlined in the first bullet) so the property will have to meet the excessive lifetime claims threshold after the date this bill is signed into law before they are prohibited from purchasing coverage through the NFIP.

Treatment of Properties with a Replacement Value of $1M – The prohibition of coverage on properties with $1M replacement costs has been stricken.

​These three items are in addition to concessions secured earlier this summer, including preservation of grandfathering when communities adopt new maps, removal of prohibition on new coverage in the Special Flood Hazard Area, and reducing the minimum floor of increases pre-FIRM properties sustain from 8% annually to 6.5%. _____________________________________________________________________________________________